Ximen Mining (TSXV:XIM) has announced a non-brokered private placement

The company intends to raise gross proceeds of up to $437,500 through the issuance of up to 3.5 million units at $0.125 per unit. Each unit will consist of 1 share and 1 warrant, with each warrant exercisable at $0.18 for 18 months.

Video Transcript:

The company intends to raise gross proceeds of up to $437,500 through the issuance of up to 3.5 million units at $0.125 per unit.

Each unit will consist of 1 share and 1 warrant, with each warrant exercisable at $0.18 for 18 months.

The shares are trading at $0.17.

In addition to accredited investors, the offering is open to current shareholders.

The company is also relying on BC Securities Commission Instrument 45-535 allowing non-accredited investors to purchase the private placement provided they have obtained advice from a registered investment dealer.

The funds will be used for exploration work on the company’s British Columbia mineral properties and general working capital.

The company owns 100 percent interest in all three of its precious metal projects.

Ximen`s two Gold projects, The Gold Drop Project and Brett Gold Project are located in southern British Columbia.